Page 67 - FY 2021--22 Revenue Outlook

REVENUE MONTHLY STATUS REPORT
Utility Users Tax - Gas Users Tax
(Thousand Dollars)

2017-18 2018-19 2019-20 2020-21 2021-22
MONTHLY ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 5,416 5,198 5,835 4,830 4,712 (118) 4,712 4,830
AUGUST 4,556 4,631 4,623 4,410 4,560 150 4,560 4,560
SEPTEMBER 4,037 4,540 4,250 4,120 4,169 49 4,169 4,170
OCTOBER 4,203 5,212 4,179 4,190 3,927 (263) 3,927 3,930
NOVEMBER 4,571 4,929 4,533 4,120 4,341 221 4,341 4,340
DECEMBER 5,063 5,252 5,163 4,810 5,667 857 5,667 5,670
JANUARY 6,055 8,060 8,254 6,790 8,020 1,230 8,020 8,020
FEBRUARY 7,937 11,628 11,127 8,910 9,457 547 9,457 9,450
MARCH 7,072 11,074 9,612 7,440 9,483 2,043 9,483 9,480
APRIL 8,308 10,361 7,677 6,540 7,825 7,710
MAY 5,857 366 3,824 5,280 5,490 5,490
JUNE 4,952 5,782 4,760 4,960 5,050 5,050
TOTAL $ 68,028 $ 77,035 $ 73,837 $ 66,400 $ 72,700 $ 72,700
% Change -7.7% 13.2% -4.2% -10.1% -1.5% 0.0%
2017-18 2018-19 2019-20 2020-21 2021-22
CUMULATIVE ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 5,416 5,198 5,835 4,830 4,712 (118) 4,712 4,830
AUGUST 9,973 9,830 10,459 9,240 9,272 32 9,272 9,390
SEPTEMBER 14,009 14,370 14,708 13,360 13,441 81 13,441 13,560
OCTOBER 18,212 19,582 18,888 17,550 17,367 (183) 17,367 17,490
NOVEMBER 22,783 24,511 23,421 21,670 21,708 38 21,708 21,830
DECEMBER 27,847 29,764 28,584 26,480 27,375 895 27,375 27,500
JANUARY 33,901 37,824 36,838 33,270 35,395 2,125 35,395 35,520
FEBRUARY 41,839 49,452 47,965 42,180 44,852 2,672 44,852 44,970
MARCH 48,910 60,526 57,577 49,620 54,335 4,715 54,335 54,450
APRIL 57,219 70,887 65,254 56,160 62,160 62,160
MAY 63,076 71,253 69,077 61,440 67,650 67,650
JUNE 68,028 77,035 73,837 66,400 72,700 72,700

Revenue from the gas users tax is a factor of price and consumption. Prices have dropped significantly in recent
years and are subject to volatility. City receipts, which have historically followed the natural gas prices, have
diverged during peaks in supply and demand such as during the Aliso Canyon gas leak and the colder winters.
Remittances for 2018-19 in the table above reflect the reduced May payment reflecting the California Climate
Credit's credit impact on gas utility user bills.
The 2020-21 estimate assumed a decline from the previous year from the full year impact of a legal settlement
that will reduce the tax rate for three years. This decline has been offset by the current trend in increasing natural
gas prices. The 2020-21 and 2021-22 revised and proposed estimates are based on current receipts, the
increase in actual prices, and stable futures.

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